Ninja Van raises $578 million in funding round, adds Alibaba as investor By Reuters

© Reuters. A Ninja Van supply van is pictured at their workplace in Singapore September 7, 2017. REUTERS/Edgar Su/Recordsdata

SINGAPORE (Reuters) – Logistics supplier Ninja Van added Alibaba (NYSE:) Group as a brand new investor because it raised $578 million in a late stage funding spherical, the Singapore-based agency stated on Sunday.

Present buyers to take part within the spherical included Europe’s GeoPost/DPDgroup, B Capital Group and Monk’s Hill Ventures.

The funds will probably be allotted in direction of infrastructure and know-how programs that “will help a sustainable long-term value construction,” Ninja Van, launched in 2014, stated in an announcement.

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